Global International Freight Forwarding Services Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

Growing influence of the e-commerce sector, which will increase demand for tracking systems in light and medium commercial vehicles

• The rise in nearshoring manufacturing activity around the world, which is projected to be completed in the absence of trade approval, is expected to stymie market expansion. Furthermore, the reshoring and nearshoring manufacturing surge is expected to strain the goods forwarding business.

Market Segmentations

• The Global International Freight Forwarding Services Market is segmented based on Service, Mode of Transport, Customer, End-User, and Geography.
• By Service, the market is classified into Transportation & Warehousing, Packaging & Documentation, and Value-added Services.
• Transportation & Warehousing hold the largest share of the market. The services include the physical movement and storage of products. Freight forwarders play an important role in logistics coordination and management, including organizing transportation options (such as air, ocean, road, or rail) and ensuring safe and timely delivery of goods to their destinations. Warehousing services include product storage and management in warehouses or distribution centers.
• By Mode of Transport, the market is classified into Ocean Freight Forwarding, Sea Freight Forwarding, and Air Freight Forwarding.
• Due to the enormous carrying capacity at the lowest cost, the ocean freight forwarding sector is the largest contributor to the market and is predicted to develop at a good CAGR throughout the forecast period. An ocean goods forwarder specializes in cargo ship transportation. It helps ocean forwarders to understand precisely how to complete every shipment and to create the required contacts to obtain the best ocean rates, which they can then pass on to their clients.
• By Customer, the market is classified into B2B and B2C.
• The B2B (business-to-business) segment has typically held a larger share of the domestic freight forwarding services market. This is because B2B transactions involving commercial shipments between businesses typically include higher order values, larger volumes, and more sophisticated logistics requirements. B2B customers frequently maintain continuous relationships with goods forwarders because they demand regular and dependable transportation services to manage their supply chains efficiently.
• By End-User, the market is classified into Retail & E-Commerce, Manufacturing, Healthcare, Automotive, and Others.
• The industrial and manufacturing category is the market's largest contributor and is predicted to increase at a respectable CAGR over the forecast period. Freight forwarding is increasing because of the growing manufacturing industry globally and the necessity to protect the quality of created goods. Customers do not desire things that are broken, spoilt, or damaged. As a result, goods forwarding is used to suit customers' needs.
• By Geography, the market is classified into the Americas, Europe, Middle East & Africa, and Asia-Pacific.
• The Asia Pacific area is experiencing tremendous expansion in the worldwide goods forwarding sector. The presence of fast-growing economies such as India and China is primarily responsible for the region's growth. Because the region's fast-growing economies provide growth prospects, prominent firms focus on mergers and acquisitions to extend their companies' footprint. For example, in March 2021, Germany-based global third-party logistics (3PL) services provider Kuehne+Nagel (K+N) paid USD 1.5 billion for China-based goods forwarder Apex International Corporation.

Recent Development

• Raft announced the integration of PayCargo, which will broaden the capabilities of Raft's new AI payment functionality tool. Users of Raft will have access to PayCargo's suite of payment options, saving significant time and money while avoiding significant operational risks. - November 2022
• A.P. Moller - Maersk (Maersk) acquired LF Logistics with premium capabilities in Asia-Pacific omnichannel fulfillment services, e-commerce, and inland transport. As a result, LF Logistics will be renamed Maersk. - August 2022

Company Profiles

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of the Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Luxembourg, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle East and Africa (Egypt, Israel, Qatar, Nigeria, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

Ansoff Analysis

• The report presents a detailed Ansoff matrix analysis for the Global International Freight Forwarding Services Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development, and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
• The publisher analyses the Global International Freight Forwarding Services Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
• Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of the Global International Freight Forwarding Services Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter's 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
• The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report also contains the competitive analysis using Positioning Quadrants, the Proprietary competitive positioning tool.

Report Highlights

• A complete analysis of the market, including parent industry
• Important market dynamics and trends
• Market segmentation
• Historical, current, and projected size of the market based on value and volume
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market